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under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next ten years u.s. debt will increase $10 trillion from a little more than 16 trillion-dollar now to more than $26 trillion in 2023. >> you can't raise enough tax to say pay for this problem. you won't grow fast enough to get rid of this problem. you ultimately have to deal with spending. >> after 2023, the debt begins to soar. >> after that it's going to grow and reach the trillion and go beyond the trillion. so at no point in the foreseeable future is the deficit going to come down to manageable level. >> noting repeatedly high debts are bad and dangerous as he put
under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next...
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deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate will remain above 7.5%. that would make 2014 the 6th year in a row with unemployment so high. the longest such period in 70 years. martha: the unemployment rate has been above 7% since december of 2008. and most recent monthly number ticked up from 7.9% from 7.8%. not a good trend. when you look at some of these numbers it makes it a tough argument for economic recovery. but the president remains convinced we are starting to see it. gregg: poverty is up. incomes are down. so the arrow is going the wrong way. in the meantime president oba
deficit reduction is not a priority. martha: the president believes the economy is getting back on track. so let the folks decide. stuart, thank you very much. gregg: according to the cbo. by the end of the year the federal debt held by the american people will be 76% of the gdp and it doesn't get much better from there. martha: the cbo also predicting unemployment will be with us for some time to come. here is the director of the cbo. >> under current law we expect the unemployment rate...
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we talk about debt and deficit a lot. according to the cbo report our debt is growing, the deficit has come down. what can you tell us about the discrepancy there? >> right. well the federal budget deficit is about half of what it was in 2009, this is the yearly federal expenditures, right stp-t budget battle in washington continues to be a philosophical debate on spending cuts versus taxes, and what the right battle should be to fix our fiscal mess. do we swallow the bitter pill now for cuts and higher taxes to purchase growth in the future or do we reign in taxes. they need to know what to do about 85 billion in spinning cuts. republicans, no surprise said spending cuts only, that's been the mantra. jenna: that's where they are. and we'll see where potentially we meet in the middle. eventually we'll have to do something. big numbers out there. lori, thank you. jon: speaking of spending cuts, big changes could be coming to your mailbox. the u.s. postal service set to scrap saturday mail delivery. but does that cash-strap
we talk about debt and deficit a lot. according to the cbo report our debt is growing, the deficit has come down. what can you tell us about the discrepancy there? >> right. well the federal budget deficit is about half of what it was in 2009, this is the yearly federal expenditures, right stp-t budget battle in washington continues to be a philosophical debate on spending cuts versus taxes, and what the right battle should be to fix our fiscal mess. do we swallow the bitter pill now for...
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bithe end of his first term and we've seen record deficits, record spending, trillion dollars-plus deficits for as long as president obama has been in office. >> and the senate republican leader, mitch mcconnell, says the president's gotten all the tax increases that he's going to get. back to you all in new york. >> gretchen: molly henneberg live at the white house today. thanks. >> brian: should be interesting to see if ted nugent will be there. he's got an invitation from a congressman and perhaps an illegal immigrant being tossed out. so that's going to be an interesting dynamic. >> steve: lot going on. in other headlines this morning, one day after the state of the union address, president obama once again planning to bypass congress of the he's set to issue an executive order tomorrow on what companies must do to protect computers from cyber attacks. good. he failed to get the cyber intelligence sharing and protection act passed by congress. the reason? republican party is concerned that the bill would expand the government's regulatory power and increase costs for businesses. both im
bithe end of his first term and we've seen record deficits, record spending, trillion dollars-plus deficits for as long as president obama has been in office. >> and the senate republican leader, mitch mcconnell, says the president's gotten all the tax increases that he's going to get. back to you all in new york. >> gretchen: molly henneberg live at the white house today. thanks. >> brian: should be interesting to see if ted nugent will be there. he's got an invitation from a...
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to pay down the deficit. and potentially to make our businesses more competitive. >> president's call comes a day after his two most southeastern defense advisors warned the sequester would make the country less safe, and the president says the domestic spending cuts would slow down the economic recovery, which isn't producing jobs fast enough even now, shepard. >> shepard: what are we hearing from republican? reporter: they say the sequester was a white house idea. though the goal was to force a compromise by the so-called supercommittee. that didn't happen. now some lawmakers in both parties say the sequesterses of across the board cuts would be better than a bad deficit reduction deal. one senator said rather than continuing to raise taxes on hard-working americans, congress ought to be looking a ways to reduce our runaway federal spending. senator mitch mcconnell says congress acted on the tax issue when it allowed the bush administration tax cuts for the well-to-do to expire. some of them. now he says it
to pay down the deficit. and potentially to make our businesses more competitive. >> president's call comes a day after his two most southeastern defense advisors warned the sequester would make the country less safe, and the president says the domestic spending cuts would slow down the economic recovery, which isn't producing jobs fast enough even now, shepard. >> shepard: what are we hearing from republican? reporter: they say the sequester was a white house idea. though the goal...
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to pay down the deficit, and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans as well as independence, have the same view, and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be finished before march 1st and unfortunately, that's the date when a series of harmful automatic cuts to job creating investments and defense spending also known as the sequester are scheduled to take effect. so if congress can't act immediately on a bigger package, if they can't get a bi bigger package done by the time the sequester is scheduled to go into effect, then i believe that they should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until congress finds a way to repla
to pay down the deficit, and potentially to make our businesses more competitive. now, i think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction. the overwhelming majority of the american people, democrats and republicans as well as independence, have the same view, and both the house and the senate are working towards budget proposals that i hope reflect this balanced approach. having said that, i know that a full budget may not be...
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earlier today cantor spoke about fiscal discipline, pressing the president to lead the way in deficit reduction. >> we want to see from the president how long he thinks it should take to balance a budget and how he's going to do it. you know, at the end of the day all of us are here trying to improve the prospects for a brighter future for all americans. >> reporter: while cantor is expected to talk more about the economy in a speech today, he's also likely to discuss education and health care. one capitol hill watch every says he's trying to get more people under the gop tent. >> trying to resell and remessage republican philosophy. it's not a change. it's not amending the republican agenda. thisit's not switching out their principles, but trying to put a fresh look on what their agenda is and trying to frame it as a pragmatic, useful, helpful agenda that makes your life work better. >> reporter: stoddard says cantor is one of the younger gop lawmakers trying to put forward a modern image of the party while still adhering to conservative principles. jenna? jenna: molly henneberg live
earlier today cantor spoke about fiscal discipline, pressing the president to lead the way in deficit reduction. >> we want to see from the president how long he thinks it should take to balance a budget and how he's going to do it. you know, at the end of the day all of us are here trying to improve the prospects for a brighter future for all americans. >> reporter: while cantor is expected to talk more about the economy in a speech today, he's also likely to discuss education and...
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if you combine those together you cannot only reduce the deficit but continue to invest in things like education and research and development that are going to help us grow. >> just a few hours from now president obama will continue his push for gun control. the heated topic on sunday talk shows. kelly wright is life in washington can more. >> president obama will travel to minneapolis the city that is making steps to curb gun violence. he will talk about the issue that can be taken on the federal level to reduce gun violence. it shows deep de visions over what toe do about curbing the violence. a former navy man watched his wife traumatic giffords watch his wife give testimony before. she was one of several people shot by deranged gunman. he tells fox news he believes there are responsibility solutions that can be taken. >> there are common sense things that we can do to make this country a lot safer. sun i have sal criminal background check, identifying the mentally ill and getting those records into the system. >> but kelly says while background checks kept guns from calling into th
if you combine those together you cannot only reduce the deficit but continue to invest in things like education and research and development that are going to help us grow. >> just a few hours from now president obama will continue his push for gun control. the heated topic on sunday talk shows. kelly wright is life in washington can more. >> president obama will travel to minneapolis the city that is making steps to curb gun violence. he will talk about the issue that can be taken...
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the president spoke little of debts and deficits on that cold january day. he will layout an agenda that includes nods to the deficit and ramped up spending on domestic programs we think he will speak to raise taxes. they are already making an argument against big spending cuts. >> it is we have a budget problem that we to address. >> the president is expected to push hard against the see quest tored the automatic spending cuts this month. almost certain to mention gun control initiatives. much of the speech could focus on job creation federal out lays more spending for education and infrastructure republicans will be wearing. >> as long as we pay for it. we have seen this movie before. we saw it with the so-called stimulus package back in the beginning of the administration. we saw the most stagnant economy and for every man woman and child in america. >> right after the president will aggressively sell this as he travels to three cities asheville north carolina and down to atlanta georgia to chicago illinois. he will be pressing those broad themes at each
the president spoke little of debts and deficits on that cold january day. he will layout an agenda that includes nods to the deficit and ramped up spending on domestic programs we think he will speak to raise taxes. they are already making an argument against big spending cuts. >> it is we have a budget problem that we to address. >> the president is expected to push hard against the see quest tored the automatic spending cuts this month. almost certain to mention gun control...
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they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the house of representatives has not once but twice passed legislation that would replace the sequester and the deep defense cuts which do cause damage to our national security and our readiness with other cuts also in the budget. and that is something that has been rejected by the democrats here on capitol hill and by the president. >> greta: what i don't get is the gal to come out and ask for mother delay. i can't delay showing up for my job and neither canmy american. we can't keep asking for the delays and he says the economy is headed in the right direction. maybe
they have $3 billion in tax increases against a $845 billion deficit. the point that you make is a good one. the president and he drove this thing in august of 2012. h20122011. he wanted the sequester. read woodward's book in page 226 or some where in this and the deep cuts in defense thinking at the time that would put enough pressure on republicans to get them to agree to higher tax. here we are he wants this thing delayed yet again but to be fair there has been a solution put forward. the...
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the end of his first term, and we've seen record deficits, record spending, trillion dollar plus deficits for as long as president obama's been in office. >> reporter: a look at our or latest fox news poll from last week, we asked among other things what's your number one priority, the thing you're sort of most passionate about. dealing with government spending was number one, and yet we're hearing from the president's aides he'll be talking more tonight about investments in education, other programs. investments another word for spending, arthel. arthel: and we'll see how that goes over. ed henry, thank you very much. jon: marco rubio will give the republican response to the state of the union address. tonight will be senator rubio's chance to really shine. chief national corps 1307b9 jim angle is live in washington. the big question, jim, why senator rubio? [laughter] >> reporter: well, the answer to that question is pretty easy. there is no question that senate rubio -- who was only elected in 2010 -- is already a star in the republican party, and that's why he'll give the official res
the end of his first term, and we've seen record deficits, record spending, trillion dollar plus deficits for as long as president obama's been in office. >> reporter: a look at our or latest fox news poll from last week, we asked among other things what's your number one priority, the thing you're sort of most passionate about. dealing with government spending was number one, and yet we're hearing from the president's aides he'll be talking more tonight about investments in education,...
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they are not sure they want to use that money to lor lower the deficit. that is one of the issues that will need to be resolved as the president and congress workout this deal to avoid this sequester, gregg. gregg: the republicans didn't win the last tax battle. we'll wait and see. wendell goler live at the white house. thank you. martha: there are new questions today about the biggest gas price skwrupl nap years in some states. what is going on out there? we'll have new details and what might be the latest pain at the pump. . . . .. martha: we're working on getting more information on u.s. gold medalist lindsey vonn. she is a four-time world champion. the event that was going on in austria, she had a crash. she said it was very foggy. it was delayed a couple hours. three out of the other four top racers did not finish the race. on the left-hand side of the screen you can see her being airlifted. when she got up, she stumbl.
they are not sure they want to use that money to lor lower the deficit. that is one of the issues that will need to be resolved as the president and congress workout this deal to avoid this sequester, gregg. gregg: the republicans didn't win the last tax battle. we'll wait and see. wendell goler live at the white house. thank you. martha: there are new questions today about the biggest gas price skwrupl nap years in some states. what is going on out there? we'll have new details and what might...
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and investing in our people. >> now, you hear that brief mention of the deficit there so they say inside the white house the president does want to bring spending down, but when he mentions the word investment, republicans like speaker boehner, as you noted think it's more about government. he said i don't think he has the guts to do it. he doesn't have the courage to take on the liberal side of his own party, never has. so interesting on a night when we might see both sides come together at least a little bit and talk about what they may get done in this new congress that's meeting now. instead, you have a president who is planning to give perhaps a more partisan speech and a republican speaker laying down the gauntlet before this speech and saying he doesn't think the president has the guts to cut spending and really tackle the deficit. >> alisyn: that does not sound like a harbinger of coming together of both sides. >> they'll be up there tonight together. so that could make for an interesting little moment. >> alisyn: all right, we will be on the lookout for all of those moments, ed
and investing in our people. >> now, you hear that brief mention of the deficit there so they say inside the white house the president does want to bring spending down, but when he mentions the word investment, republicans like speaker boehner, as you noted think it's more about government. he said i don't think he has the guts to do it. he doesn't have the courage to take on the liberal side of his own party, never has. so interesting on a night when we might see both sides come together...
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we have a budget deficit problem we have to address. right now we have low interest on the national debt, and it is a good time for us to act to lower that deficit. we think that the deficit and national debt are at a immoral levels. we think they must be reduced. we're sick and tired of paying interest on the national debt. and that 15%, that is large percentage of the budget, the interest on the national debt. it is lower now because of the lower interest rates. martha: hmmm. what do you think about that? send us a tweet @marthamaccallum or @billhemmer because that is an interesting statement from nancy pelosi. she suggested that tax reform instead of spending cuts as a solution could get things back on track. it is interesting, bill. we're hearing so much talk about closing loopholes and things along those lines which conservatives wanted to do the first time around. they didn't want to raise rates. they suggested doing a real overhaul of our tax reform system in this country which a lot of people have been talking about since the el
we have a budget deficit problem we have to address. right now we have low interest on the national debt, and it is a good time for us to act to lower that deficit. we think that the deficit and national debt are at a immoral levels. we think they must be reduced. we're sick and tired of paying interest on the national debt. and that 15%, that is large percentage of the budget, the interest on the national debt. it is lower now because of the lower interest rates. martha: hmmm. what do you...
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we have achieved about two trillion in deficit reduction so far and have another two trillion to go and something that reasonable minds agree on. it will be more fun when you are making new investmentings. >> here's the problem. so many americans believe that congress is so pol oarized right now . so difficult to make head way at this moment. everybody is camped out and take care of their own agendas . how do you get past that right now. & not every democrats support it an agreement and in my view tax were deciped and now why have turn to spend everybody acknowledges we have a spending problem and so to prevent the dire consequences that come with sequestitration and economic and national security wise and domestic programs are cut, too. we have to cut spend nothing a smart way and no reason we can't do that. >> we'll give you the last word. do we have a spending problem and believe that that is at play right now. >> we'll have to reduce spending . andy he upon said we need to have it. it was all spending cuts and the second round increases . and they are advocate that's what the countr
we have achieved about two trillion in deficit reduction so far and have another two trillion to go and something that reasonable minds agree on. it will be more fun when you are making new investmentings. >> here's the problem. so many americans believe that congress is so pol oarized right now . so difficult to make head way at this moment. everybody is camped out and take care of their own agendas . how do you get past that right now. & not every democrats support it an agreement...
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need to limit our spending, deficits are a problem and do what he always does, is spend more money. he gives great speeches. they're wonderful. but look at the actual actions and its ongoing spending, ongoing deficits, 50% increase in the national debt. we're up to $60.5 trillion national debt. we'll be up by the end of the year. i don't think any his budgets balanced in any of the years. the republicans should kill some programs and kill some of this activity wiping us out. >> gretchen: thanks so much. >> thank you. >> gretchen: coming up, taliban despises us. the muslim brotherhood wants to destroy us. can we afford to make defense cuts then right now? general bob scales next. [ male announcer ] how do you make america's favorite recipes? just begin with america's favorite soups. bring out chicken broccoli alfredo. or best-ever meatloaf. go to campbellskitchen.com for recipes, plus a valuable coupon. campbell's. it's amazing what soup can do. >> i'm bill hemmer. nothing like a bombshell to start the week. the pope is resigning, full and complete reaction on this breaking story. 67
need to limit our spending, deficits are a problem and do what he always does, is spend more money. he gives great speeches. they're wonderful. but look at the actual actions and its ongoing spending, ongoing deficits, 50% increase in the national debt. we're up to $60.5 trillion national debt. we'll be up by the end of the year. i don't think any his budgets balanced in any of the years. the republicans should kill some programs and kill some of this activity wiping us out. >> gretchen:...
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let's reform the defense budget and look at the largest drivers of our deficit in mandate spending programs those on the left end of the spectrum don't want to cut. >>brian: they took gates cuts and are going try to up them by $500 billion. leon panetta takes over from them. has the same fear. here's what he said yesterday on "meet the press." >> we've got a plan for that possibility because there are so many members saying we're going to let it take place, but i have to tell you it is irresponsible for it to happen. i mean, why -- why in god's name would members of congress elected by the american people take a step that would badly damage our national defense, but more importantly undermine the support for our men and women in uniform? why would you do that? >>brian: that is inaccurate. it is the president who proposed these sequester cuts. this isn't congress doing that. and republican fear about these cuts, would you say that's accurate? >> i would say it's accurate. there is a growing resignation to them on the hill for some reason. i was there two weeks ago. everyone seems resigned to
let's reform the defense budget and look at the largest drivers of our deficit in mandate spending programs those on the left end of the spectrum don't want to cut. >>brian: they took gates cuts and are going try to up them by $500 billion. leon panetta takes over from them. has the same fear. here's what he said yesterday on "meet the press." >> we've got a plan for that possibility because there are so many members saying we're going to let it take place, but i have to...
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. >> it was specially made, custom plate over the deficit in her skull which is this sort of size in the entrance. and, left-hand side of her skull. >> reporter: wow, the outspoken activist not giving up on her dreams to help others. her determination even stronger after outpouring of support she experienced following her injuries. >> because of these prayers god has given me this new life. and this is a second life. this is a new life. you want to serve. i want to serve the people. and i want every girl, every child to be educated. >> reporter: i love this little girl. malala's latest surgery restored her hearing with a cock letter implant. she will do so with a newly formed found decision, the malala fund, $10 million strong courtesy of pakistan. jon? jon: she is amazing, wow. >> reporter: so are the doctors. good for her. jon: jamie colby, thank you. jenna: new orleans was enjoying its moment in the national spotlight when suddenly the superdome plunged into darkness. the power outage putting the super bowl on hold for more than half an hour. what could cause a blackout right in t
. >> it was specially made, custom plate over the deficit in her skull which is this sort of size in the entrance. and, left-hand side of her skull. >> reporter: wow, the outspoken activist not giving up on her dreams to help others. her determination even stronger after outpouring of support she experienced following her injuries. >> because of these prayers god has given me this new life. and this is a second life. this is a new life. you want to serve. i want to serve the...
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if you combine those things together we cannot only reduce our deficit but we can invest in education and research and development that will help us grow. martha: what do you think about that at home and what does karl rove think about that. former senior adviser to president george w. bush. there was a lot in that sound bite. we know the tax hikes have kicked in, but the president is suggesting that we need more money from the american people essentially. >> we have a spending problem not a revenue problem. revenues this year are anticipated to be above the year they were in fiscal '08. they are going to be over $2.9 trillion over $2 trillion. spending has increased more rapidly than revenues. the tax revenues we got as a result of raising the rates on the top two brackets was eaten up about it congress in one spending bill proposed about it administration, the sandy relief measure. we have a spending problem and it's going to get worse. martha: during the campaign we heard from governor romney about changing the structure of the tax code long term instead of just raising taxes and d
if you combine those things together we cannot only reduce our deficit but we can invest in education and research and development that will help us grow. martha: what do you think about that at home and what does karl rove think about that. former senior adviser to president george w. bush. there was a lot in that sound bite. we know the tax hikes have kicked in, but the president is suggesting that we need more money from the american people essentially. >> we have a spending problem...
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>> well, in the last two years we've seen about $2.4 trillion of deficit reduction, 1.7 of that coming from spending cuts and .7 coming from tax increases on the wealthy. so i think there's still a lot of need for revenue from upper income earners, and the public agrees with that. and they want to see spending cut, too, and that's what the president and democrats have put forward. i think they'll keep talking about keeping that balanced approach, and if republicans keep insisting there are no more revenues, thai not on the -- they're not on the side of the public. jon: wait, wait, quickly. where have they put forward spending cuts? >> the president and senate democrats have put forward a balanced plan to move the sequestering back by a year, and the republicans are ve jekylling that saying they won't accept any revenue. they would rather have the sequester happen, they would rather have it tank the economy and undermine our national security than agree to a compromise. and i think, you know, the public is going to see through that sort of extremist position. jon: well, the president, i
>> well, in the last two years we've seen about $2.4 trillion of deficit reduction, 1.7 of that coming from spending cuts and .7 coming from tax increases on the wealthy. so i think there's still a lot of need for revenue from upper income earners, and the public agrees with that. and they want to see spending cut, too, and that's what the president and democrats have put forward. i think they'll keep talking about keeping that balanced approach, and if republicans keep insisting there...
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our deficit is a big problem. >> what about our taxation system? >> that speech now stirring up some presidential buzz for the good doctor. we're going to talk to dr. benjamin carson and find out what he thinks about what happened to him in dc the other day. he joining us live on "fox & friends" as we start our fourth hour on this sunday right now. >>> welcome back, everybody. thanks so much for joining us. it's great to talk to dr. carson. so many of you e-mailed in yesterday with responses to that speech that got so much attention. we want to talk to you about if it was awkward sitting next to the president as he was criticizing his policies. he has a great prescription for how he thinks we should fix our health care system. in the meantime, let's talk about the extreme weather. the people in the northeast are digging out after more than three feet of snow in some areas. thousands are in the dark waiting for the power to come back on. clears are waiting to clear the roads. >> i tell you this, 40 inches of snow, rick, in some places. >> have you e
our deficit is a big problem. >> what about our taxation system? >> that speech now stirring up some presidential buzz for the good doctor. we're going to talk to dr. benjamin carson and find out what he thinks about what happened to him in dc the other day. he joining us live on "fox & friends" as we start our fourth hour on this sunday right now. >>> welcome back, everybody. thanks so much for joining us. it's great to talk to dr. carson. so many of you...
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Feb 6, 2013
02/13
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democrats and republicans have still been able to come together and cut the deficit by more than $2.5 trillion through a mix of spending cuts and higher rates on taxes for the wealthy. >> gretchen: so does that mean more taxes, too? new hampshire senator kelly ayotte joins us now with her thoughts. good morning to you, senator. >> good morning. >> gretchen: so what did you make of the president when he made that comment? >> what i made of it is this, that no question that we need to cut spending, get our fiscal house in order with $16 trillion in debt, but his first answer to everything is, new taxes. when you think about it, what happened in january, he got $600 billion in new revenue. where were the spending cuts? now again he wants to raise taxes. i think it's time for us to cut spending. >> steve: what are the odds he was talking yesterday about how bad the sequester is. the sequester was the idea, it was the invention of the white house! >> well, it was. if you read bob woodward's book, he said it was their idea and by the way, today i'm going to be working with another group of
democrats and republicans have still been able to come together and cut the deficit by more than $2.5 trillion through a mix of spending cuts and higher rates on taxes for the wealthy. >> gretchen: so does that mean more taxes, too? new hampshire senator kelly ayotte joins us now with her thoughts. good morning to you, senator. >> good morning. >> gretchen: so what did you make of the president when he made that comment? >> what i made of it is this, that no question...
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Feb 9, 2013
02/13
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. >> our deficit is a big problem. think about it. our national debt, 16.5 trillion dollars? you think that's not a lot of money in tell you what, count one number per second. you know how long it will take to count to 16 trillion? 507,000 years. you make $10 billion, you put in a billion. you make $10, you put in one. some people say that's not fair because it doesn't hurt the guy to made $10 billion as much as -- where does it say you have to hurt the guy? he just put a billion dollars in the pot. we don't need to hurt him. >> a lot of people say his speech eclipsed that of president obama who -- i don't portend to be in the mind of president obama but he didn't look delighted. >> i would like to get in hit mind. loathing on his face. that's one of the more coherent defenses of flat tax. >> start counting. >> why shouldn't every citizen pay the same rate? >> why does it have to be punitive is -- >> exactly. the sure pleasure of punishing someone. >> i found out sean hannity has more power than i do. he got his on his show. here he is. >> well, you know, obviously i had all
. >> our deficit is a big problem. think about it. our national debt, 16.5 trillion dollars? you think that's not a lot of money in tell you what, count one number per second. you know how long it will take to count to 16 trillion? 507,000 years. you make $10 billion, you put in a billion. you make $10, you put in one. some people say that's not fair because it doesn't hurt the guy to made $10 billion as much as -- where does it say you have to hurt the guy? he just put a billion dollars...